World News

China

• In the wake of last weeks shutdown of half the country's 1,176 dairies, three children in north-west China have died after drinking milk tainted with nitrate.  The milk was provided by two local dairies in the region.

European Union

• The European Banking Authority has named 90 banks that must undergo a two-year stress test, part of which requires keeping at least 5% of their core capital in Tire 1 securities.  Few banks are expected to fail, but it is believed that this will prompt many banks to raise capital.
• Portugal has been informed that it must implement new and more stringent economic reforms in order to secure aid from the European Union and the IMF.  "The package must be really strict because otherwise it does not make any sense to guarantee anybody's loan," said Finland's finance Minister Hyrki Katainen, "The package must be harder and more comprehensive than the one which parliament voted against."  Given that Portuguese Prime Minister Jose Socrates resigned after parliament rejected the "less hard and less comprehensive" package, things don't look good for the bailout right now.

Israel

• Six Palestinians are dead in Gaza following Israeli air strikes, launched in retaliation for a Hamas attack on an Israeli school bus with an anti-tank shell.

Ivory Coast

• With Laurent Gbagbo isolated and his presidential residence[1] under siege, President-elect Alassane Quattara is asking the EU to lift sanctions and shipping restrictions.  His hope is to resume cocoa shipments, which constitutes the country's main source of income.

Japan

• The Japanese Cabinet Office is saying that "Japan's economy is suddenly in a severe condition due to the effects of the earthquake."  It is tempting to respond "well, yeah" to this, but the comment comes on the heels of the release of a monthly survey of hotel workers, restaurant staff and taxi drivers that shows a record drop in confidence.
• Yesterday's 7.4-magnitude aftershock off the coast of Miyagi, Japan has caused a leak in a recycled fuel pool at the Onagaway nuclear plant.  Three people are reported dead in the aftermath, and power has been lost to some 3.6 million homes.
• Toyota Motor Co plans to repoen all 18 of its Japanese factories between April 18 and April 27, although they will be working at about half their normal capacity due to supply chain disruptions.  Nissan Motor Co plans to resume normal production in stages, beginning April 11.

Syria

• Syrian security forces opened fire on protesters in Deraa, who were calling for the overthrow of the current government.  Reports are sketchy, but at least two people were wounded.

United States

• Asked in a Senate hearing how and when the conflict in Libya would end, General Carter Ham[2] stated only that "I think it does not end militarily."  He also indicated that, at the moment, the Libyan conflict appears to be a stalemate, and said that he would not recommend arming the rebels without a better idea of who they are.
• A final review of paperwork and records in the Wisconsin Supreme Court Court election, which had been seen as a referendum on the policies of the controversial state governor and which had been declared a victory for the Republican candidate[3], revealed "thousands of uncounted votes".  The Waukesha County Clerk responsible has blamed "human error" for the failure to properly record the voting results of an entire town.
• President Obama has said that progress has been made on a budget compromise, but also that he was not prepared to express "wild optimism".  Without some sort of compromise, the Federal government will shut down at midnight.
• Defense Secretary Robert Gates, during his unannounced visit to Iraq, indicated that US troops could remain in the country beyond the agreed withdrawal date of December 31, 2011.  "If folks here are going to want us to have a presence," he said, "we're going to need to get on with it pretty quickly in terms of our planning."

Yemen

• Tens of thousands of demonstraters for and against President Ali Abdullah Saleh protested and counterprotested at funerals for anti-Saleh protesters killed earlier in the week.
• The United States has frozen a $1 billion aid package to Yemen, following the beginning of anti-Saleh protests.

[1]  Along with the presidential heavy weapons emplacements and presidential mercenaries...

[2]  Head of the US Africa Command.

[3]  His margin of victory was 7582 votes.  Keep that in mind.